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Boohoo Group

November 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Boohoo’s half year results came in ahead of forecast with revenues rising 45% to £816.5m (consensus forecasts: +37%) and EBITDA rising 48% to £89.8m (consensus: £81.2m). Pretax profit rose 53% to £79m and eps gained 56% to 4.53p. Boohoo also lifted full year guidance with revenue growth now +28-32% (from 25% previously) and EBITDA margin now expected to be 10% (from 9.5%-10%) following a good start to H2 with momentum “continuing into September.” Net cash rose very strongly from £207.3m to £344.9m and Jefferies expects £374m at the year end in spite of higher capex of £80m-£100m reflecting a step up in automation investments at Sheffield and Burnley.The number ...

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